Open thread for night owls: Corporate profits soar, job growth doesn't

At The Atlantic, Derek Thompson writes Corporate Profits Are Eating the Economy:

Here are two things that are true about the economy today. (1) The Dow Jones industrial average is poised to set a new record as corporate profits stretch to all-time highs. (2) There are still fewer working Americans today than there were before the start of the Great Recession. [...] Corporate profits have soared, in the last decade especially, particularly because of three things: Globalization has pushed down the cost of labor available to multinational corporations; technology has allowed companies to make more with fewer workers, in general; and Big Finance has gobbled up the economy, as the banks' share of total corporate profits has tripled to about one-third since the middle of the last century, according to Evan Soltas. [...] When the economy crashes, we all crash together: corporate profits, employment, and growth. But when the economy recovers, we don't recover together. Corporations rack up historic profits thanks to strong global demand, cheap global labor, and low interest rates, while American workers muddle along, their significance to these companies greatly diminished by a worldwide market for goods and people. No comment needed.

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